US MARKETS / strong recovery – Amazon stocks in focus with stock split | News

NEW YORK (Dow Jones) – Wall Street is expected to start trading Monday with a sharp recovery from the weekend tide. The strong US labor market report for May further exacerbated concerns about further sharp increases in key interest rates. The S&P 500 index ended 8 out of the last 9 weeks of trading in negative territory. S&P 500 futures are now up 1.1%.

“The labor market remains tight and employment growth is stable. This allows the Federal Reserve to keep raising interest rates, ”said Jeffrey Roach, chief economist at LPL Financial. The US Federal Reserve is expected to raise interest rates by 50 basis points at both the June and July meetings. What it will do then in September is not certain yet, but Friday’s employment report did not do much to change the mindset of those on Wall Street who believe the Fed still has a lot to do to cool the overheated economy.

At the beginning of the week, the US economic data agenda is empty. Investors are already focusing on May consumer prices, which will be released on Friday and will contain further information on inflation developments.

Amazon with stock split

In terms of individual values, the emphasis is on Amazon’s share with a 1:20 share split. The stocks gain 1.8 percent to $ 124.50 prior to release. This long-announced step is now underway, so each investor will have 20 times more Amazon stock in their portfolios than before. In Friday’s after-hours trading, the title was still $ 2,447.50.

AIkido Pharma fell 5.9 percent to $ 0.28 after the company decided to reverse the stock split to meet its requirement to remain on the stock exchange. By combining every 17 Alkido shares into one, the price rises above the requirement of $ 1.

Oil prices maintain their recent gains

After a sharp rise on Friday, oil prices kept their premiums and did not change much. Supporting action is the fact that Saudi Aramco, the world’s largest oil producer, has significantly raised its selling price in the East Asia region. According to observers, there should be an expectation that demand will remain strong.

The euro has not changed much either. According to the RBC’s currency exchange experts, it should show strength ahead of Thursday’s ECB interest rate meeting. The central bankers there are likely to see July approaching rate hike a signal that creates a demand for the euro in advance. Sterling is also up, despite a vote of no confidence in Prime Minister Boris Johnson tonight.

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US bonds

Term Profitability Bp to VT Profitability VT +/- Bp YTD

2 years 2.70 +1.7 2.68 196.6

5 years 2.97 +3.9 2.93 171.2

7 years 3.01 +3.7 2.97 156.7

10 years old 2.97 +3.4 2.94 146.2

30 years old 3.13 +3.7 3.09 123.0

FOREX last +/-% Mon 8:36 Fri 17:01% YTD

EUR / USD 1.0720 -0.0% 1.0729 1.0721 -5.7%

EUR / JPY 140.16 -0.1% 140.18 140.14 + 7.1%

EUR / CHF 1.0322 + 0.0% 1.0322 1.0317 -0.5%

EUR / GBP 0.8541 -0.5% 0.8566 0.8562 + 1.7%

USD / JPY 130.74 -0.1% 130.65 130.74 + 13.6%

GBP / USD 1.2550 + 0.5% 1.2523 1.2521 -7.3%

USD / CNH (offshore) 6.6431 -0.1% 6.6588 6.6484 + 4.5%

Bitcoin

BTC / USD 31 381.97 + 4.8% 31 226.07 29 419.07 -32.1%

ROHL last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 118.48 118.87 -0.3% -0.39 + 62.8%

Brent / ICE 119.88 119.72 + 0.1% 0.16 + 58.9%

METALS last day before +/-% +/- USD% YTD

Gold (spot) 1,853.58 1,851.15 + 0.1% +2.43 + 1.3%

Silver (Spot) 22.40 21.93 + 2.2% +0.47 -3.9%

Platinum (spot) 1033.18 1012.99 + 2.0% +20.19 + 6.5%

The future of copper 4.43 4.48 -1.0% -0.05 -0.5%

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Contact the author: maerkte.de@dowjones.com

DJG / DJN / ros / err

(END) Dow Jones Newswires

June 6, 2022 08:38 ET (12:38 GMT)

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